Bullion battling to sustain at higher levels: AUGMONT BULLION REPORT

Published

9 months ago

May 28, 2025

JewelBuzz Spread The Buzz

1,315 Views

Gold prices saw losses of almost 2%, dropping below $3300, as investors applauded US President Donald Trump’s decision to postpone imposing tariffs on goods from the European Union.
Due to uncertainty surrounding US tax policy and tariffs, Durable Goods Orders declined for the first time since October. The tariff truce was credited with helping the US Consumer Confidence rebound from 85.7 to 98.0 in May.
In April, China’s net imports of gold through Hong Kong more than quadrupled compared to March, reaching their highest level since March 2024.
Money markets indicate that traders are factoring in easing by 50 basis points by the FED in the year 2025.

Technical Triggers

Gold prices are expected to trade in the range of $3275(~Rs 95000) and $3375(~Rs 96400) in the near term. Either side breakout or breakdown will give 2-3% movement.
Silver prices are expected to trade in the range of $32.5(~Rs 96000) and $34(~Rs 99000) in the near term.

Support and Resistance

Commodity	Market	Support Level	Resistance Level
Gold	International	$3275/oz	$3375/oz
	Indian	₹95,000/10 gm	₹96,500/10 gm
Silver	International	$32.5/oz	$34/oz
	Indian	₹96,000/kg	₹99,000/kg

Related Topics:2025 Augmont Bullion Report internationalnews

Up Next

Wonderland: Co-Creating the Future of Luxury and Jewellery

Don't Miss

CA Congress embraces sustainability initiatives in Brazil and Africa, guides trade on tariffs

Click to comment

Name*

Email*

Website

Name*

Email*

Website

0 Comments

Oldest

Newest Most Voted

Inline Feedbacks

View all comments

AGTA appeals US Government to Scrap 10% Import Tariff on Gemstones

Trade body seeks exemption for coloured gemstones under new temporary tariff regime, with potential implications for diamonds.

Published

1 day ago

February 27, 2026

JewelBuzz Spread The Buzz

1,361 Views

The American Gem Trade Association (AGTA) has formally appealed to the US government to remove the newly imposed 10% global import tariff on gemstones, and potentially diamonds, warning of its impact on the trade.

The tariff was announced on February 20 after the US Supreme Court struck down President Donald Trump’s reciprocal tariffs issued under the International Emergency Economic Powers Act (IEEPA). In response, the administration introduced a temporary 10% import surcharge under Section 122 of the Trade Act of 1974. The measure will remain in effect for 150 days unless Congress votes to extend it, though further tariff mechanisms have not been ruled out.

AGTA has submitted a formal request to the Office of the United States Trade Representative (USTR), urging that precious and semiprecious coloured gemstones be added to the exception list under Annex I or Annex II. The association argued that these stones are not mined domestically in the US and therefore should qualify for exemption.

Previously, AGTA’s lobbying efforts contributed to diamonds and gemstones being included in Annex III — a list of products eligible for potential exemption from duties for “aligned” countries. This had placed Indian diamonds and gemstones on track for relief following a prospective US-India trade agreement. However, it remains unclear whether Annex III provisions apply under the new tariff framework that recently took effect.

If the across-the-board exemption request is denied, AGTA has asked the USTR to confirm whether Annex III remains a viable pathway for country-specific tariff relief on coloured gemstones.

While the current petition focuses on coloured gemstones, AGTA noted that trade experts believe any exemption granted in this category could effectively extend to diamonds, as seen in past trade agreements such as the US–European Union deal.

“We will continue to work tirelessly toward eliminating tariffs on gemstone imports into the US. We remain fully committed to this effort — giving up is not an option,” said AGTA President Bruce Bridges and CEO John Ford.